Investor Insight: Dogecoin (DOGE) and Reddcoin (RDD) – Best Coins for the Investor with $50

The cryptocurrency market is settling after the wild rollercoaster ride in the first and second weeks of September. Most experts would tell you that this is the best time to dive in and buy some coins for medium-term to long-term holding. The majority of cryptocurrencies have lost over 70% of their value since the beginning of the year. Some experts like Thomas Lee of Fundstrat believe that the market will spike again towards the end of 2018 as it did in 2017. However, he is also aware that the conditions and status of the market have changed since then. Therefore, in this article, we will discuss three coins that are still lower in price (which means you can buy more coins with less money) and are showing potential for a significant recovery.

Dogecoin (DOGE)

Dogecoin has been one of the best performers in the market since late August and September. In fact, the token has seen a 26.53 percent growth this month only. While the market was deflating below $200 billion yearly lows of $189 billion, Dogecoin remained unaffected by the selling pressure. In turn, proving to the investor that has the potential to surge in a Bitcoin bear market.

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This cryptocurrency has come a long way when investors judged it for its cartoon-like look. Dogecoin’s logo is a dog logo in a circle with a letter D in the middle. It has come out of the FUD and towered high in the market becoming an example for bear trend defiance.

Dogecoin is a cryptocurrency project that is decentralized in addition to being a digital currency used by its holders to send and receive money online. The coin enjoys the support of a large, vibrant and amazing community.

At the time of writing Dogecoin is trading at $0.0063 while the upside is limited below $0.0070. In less than three weeks, DOGE/USD recovered from trading around $0.0025. The price is stable above $0.0060 but a break above $0.0070 is required for a further retracement towards $0.01.

Dogecoin is a $734 million cryptocurrency with a trading volume of $26 million. It is ranked 20th in the market and has a circulating supply of 116,183,574.

The crypto is one of the digital assets worth investing for an investor who has at least $50. It is likely to correct higher towards the end of 2018 as opposed to correcting lower.

Reddcoin (RDD)

Like Dogecoin (DOGE) Reddcoin has also been performing quite well in spite of the nerve-wrecking widespread declines in the cryptocurrency market over the past few weeks. Reddcoin came under heavy selling pressure in August which saw it trade lows of $0.0018. There was a recovery staged from the mid-August. RDD/USD surged terrifically towards the end of August. The token changed hands slightly above $0.0045 before beginning to correcting lower. Although Reddcoin has been a victim of the selling pressure in September, it has stayed above the current support at $0.0030.

Reddcoin was launched in 2014 to make it easy for social media users to tip and send money using what is known as Social IDs. The team has remained true to the project’s vision. Significantly, Reddcoin is launching the much-awaited Redd ID public release v1.0. Some of the amazing features of Redd ID include the ability for users to register their own unique “ReddID’ name and link their “Redd ID” to social media accounts such as Reddit, Twitter and more. With this new feature, Reddcoin users can tip by a single button click as well as send invitations to family and friends.

While ReddID is what the network and the community have been waiting for, the platform has since inception strived to make sending and receiving funds easy and seamless, especially on the social media platform.

Reddcoin is currently ranked 59th with a market capitalization of $103 million. It has a trading volume of $1.6 million in the last 24 hours. For the investor willing to spend as little as $50 on a cryptocurrency investment, Reddcoin offers the right opportunity. Both medium-term and long-term holding of this coin is likely to result in significant profit.

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